nemsupport@nem-insurance.com
It became a Nigerian branch of NEM General Insurance Association Limited of London in 1965 and incorporated in 1970 as a Nigerian company in compliance with the Companies Decree of 1968..
Engineering Insurance provides financial protection for construction projects, machinery, and technical equipment against accidental loss or damage during construction, installation, or operation. It is designed to safeguard contractors, project owners, and equipment operators from unforeseen risks that may occur on engineering sites.
At NEM Insurance, Engineering Insurance policies are structured to meet the needs of construction companies, engineering firms, manufacturers, and infrastructure developers operating in Nigeria. These policies ensure that both physical assets and third-party liabilities are adequately covered throughout the lifecycle of a project.
Engineering Insurance in Nigeria plays a vital role in supporting infrastructure development by reducing financial exposure arising from fire, explosion, collapse, mechanical failure, theft, and accidental damage.
Engineering Insurance is a class of insurance that covers engineering projects, construction works, and machinery against risks associated with installation, erection, testing, and operation. It also provides protection against legal liability for injury to third parties or damage to their property caused by engineering activities.
This type of insurance is commonly required for large construction projects, power plants, factories, telecommunications infrastructure, and industrial installations. It ensures business continuity by providing indemnity for repair, replacement, or reinstatement of damaged property.
Engineering Insurance policies may be taken out by:
Contractors and subcontractors
Project owners and developers
Manufacturers and plant operators
Engineering and construction firms
NEM Insurance offers a range of Engineering Insurance products tailored to different project and machinery risks:
This policy provides cover for loss or damage to contract works, construction materials, and equipment during the construction period. It also covers legal liability for bodily injury or damage to third-party property arising from construction operations.
CAR Insurance is suitable for building construction, civil engineering works, and infrastructure projects.
Erection All Risk Insurance covers loss or damage to machinery, plant, and steel structures during erection and installation. It may be extended to cover third-party liabilities arising from erection activities.
This policy is commonly used for industrial plants, power stations, and mechanical installations.
Plant All Risk Insurance covers construction plant and machinery while in use, at rest, or being moved within the site. It provides protection against risks such as fire, explosion, impact damage, theft, and accidental damage.
Examples of insured equipment include cranes, excavators, bulldozers, and compressors.
This policy provides indemnity for the cost of repairing or replacing insured machinery following sudden and unforeseen mechanical or electrical breakdown while the machinery is:
In operation
At rest
Being dismantled
Being moved or re-erected for cleaning, inspection, or installation within the insured location
It is suitable for factories, manufacturing plants, and processing facilities.
This policy covers loss or damage to refrigerated or temperature-sensitive stock resulting from breakdown of refrigeration equipment, power failure, or temperature fluctuation.
It is commonly used by cold rooms, food processing plants, and pharmaceutical storage facilities.
Electronic Equipment Insurance provides cover for electronic systems such as computers, servers, medical equipment, and communication systems against risks including fire, theft, power surge, and accidental damage.
This policy complements the Computer and Electronics Policy for organizations relying heavily on digital infrastructure.
Engineering Insurance offers several important benefits, including:
Protection against unexpected financial losses
Coverage for physical damage to machinery and projects
Legal liability protection for third-party injury or property damage
Support for business continuity after accidents
Risk management for large-scale construction and industrial projects
By transferring engineering risks to an insurer, businesses can focus on operations while maintaining financial stability.
Engineering Insurance is essential for:
Construction companies
Engineering contractors
Manufacturing industries
Oil and gas operators
Infrastructure developers
Power and utility companies
Businesses involved in technical operations can also combine Engineering Insurance with Oil & Gas Insurance and Marine Insurance for broader industrial risk protection.
Engineering Insurance in Nigeria is regulated by insurance laws and industry standards to ensure proper risk management for large projects. Many government and private contracts require evidence of engineering insurance before project commencement.
With growing infrastructure development across Nigeria, Engineering Insurance has become a key requirement for:
Road and bridge construction
Industrial plant installation
Energy projects
Telecommunications infrastructure
NEM Insurance provides tailored engineering policies that comply with regulatory requirements while addressing project-specific risks.
NEM Insurance offers:
Comprehensive engineering risk coverage
Industry-compliant policy structures
Claims support for technical losses
Flexible policy extensions
Strong financial capacity
Engineering Insurance can be combined with Professional Indemnity Insurance and Fire and Special Perils Insurance for complete project protection.
